Transcription of Understanding money laundering through real estate ...
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Understanding money laundering through real estate ...
BRIEFING EPRS | European Parliamentary Research Service Author: C cile Remeur Members' Research Service PE February 2019 EN Understanding money laundering through real estate transactions SUMMARY money laundering through real estate transactions integrates black funds into the legal economy while providing a safe investment. It allows criminals to enjoy assets and derived funds having camouflaged the origin of the money used for payment. A number of techniques are used, namely cash or opaque financing schemes, overvalued or undervalued prices, and non-transparent companies and trusts or third parties that act as legal owners. Among the possible indicators are geographical features (such as the distance between the property and the buyer and their actual geographical centre of interest).
Money laundering and terrorist financing through the real estate sector and the Guidance on the risk -based approach for real estat e agent s, issued in 2007 and 2008 respectively, address the real estate sector's vulnerability to money laundering.
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